Tory Burch is expanding its beauty offerings. The American lifestyle brand has formed a long-term licensing partnership with Japanese cosmetics company Shiseido.
Beginning January 1, 2020, Shiseido will have the exclusive license to develop, market and distribute Tory Burch beauty brands worldwide. The license will be managed by the Shiseido Group's Americas region, which is headquartered in New York City.
Tory Burch fragrances are currently licensed by Estee Lauder Companies, Inc. While it was not announced whether the new partnership with Shiseido will affect the Estee :auder partnership, a press release stated that the Tory Burch x Shiseido partnership will expand the latter's global fragrance portfolio.
“Tory Burch is a powerhouse fashion brand that shares many of the same values as Shiseido, and we’re thrilled to be in partnership together," Marc Rey, CEO of Shiseido Americas and chief growth officer, said in a statement. "By combining Tory’s beloved vision and the brand’s future-forward approach to digital with Shiseido’s global platform and expertise in beauty and technology, this partnership has the ability to connect even more deeply with consumers and unleash the brand’s full potential."
Under the new agreement, Shiseido will provide the Tory Burch brand with a global platform to elevate its beauty business and work to grow it into a global lifestyle beauty brand.
“We are thrilled to be partnering with Shiseido, a company I have always admired for its rich history, unparalleled products and dedication to innovation," Tory Burch, executive chairman and chief creative officer, said "There are great synergies between our companies including a deep respect and connection to our customers, a passion to support women’s empowerment and an aligned long-term strategic vision."
Image: Business Wire